MARGINAL COSTING Introduction This paper explores the use of cost accounting information for decision-making purposes. DEFINITION OF KEY TERMS Marginal cost: This is the cost of a unit of a product or service‚ which would be avoided if that unit or service was not produced or provided Break-even point: This is the volume of sales where there is neither profit nor loss. 1 9 6 COST ACCOUNTING S T U D Y T E X T Margin of safety: This is the excess of sales over the break-even volume in
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Process costing Process costing is a system which mostly practices by a company whereby the manager of the company wants to know the cash flow from one department to another. Process costing give a clarify information to managers‚ therefore this activities is very important. Process costing is consisting of three ingredients which are direct materials‚ direct labor and manufacturing overhead. Direct material is the raw material which needs to produce a product‚ for example rubber for shoes‚
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Marginal Costing Introduction The Cost of a product of comprises of materials‚ labour‚ and over heads. On the basis of variability they can be broadly classified as fixed and variable costs. Fixed costs are those costs which remain constant at all levels of production within a given period of time. In other words‚ a cost that does not change in total but become. Progressively smaller per unit when the volume of production increases is known as fixed cost. it is also called period cost eg. Rent
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Article 32 TARGET COSTING FOR NEW-PRODUCT DEVELOPMENT: PRODUCTLEVEL TARGET COSTING Robin Cooper and Regine Slagmulder Editors’ Note: This article is an updated synthesis of in-depth explorations contained in Target Costing and Value Engineering‚ by Robin Cooper and Regine Slagmulder (Portland‚ Oregon: Productivity Press‚ 1997). Part two of the series discusses product-level target costing; part three‚ to be featured in an upcoming issue‚ will address component-level target costing. tomers. Consequently
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Introduction of Standard costing 2. : CIMA { } 3. : Advantages of Standard costing 4. : Limitation of standard costing 5. : Types of standard costing 6. : Examples of standard costing 7. : Variance analysis 8. : Types of analysis 9. : Refferences 10. : Conclusion Standard Costing and Variance Analysis Introduction MEANING OF STANDARD COST AND STANDARD COSTING Standard Cost The
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[pic] Learning Objectives: ← To understand the meaning of standard costing‚ its meaning and definition ← To learn its advantages and limitations ← To learn how to set of standards and determinations ← To learn how to revise standards Introduction: Standard costing is a very practical and therefore widely used costing system‚ in businesses that make a range of products which‚ although different‚ pass through standard and repetitive processes and machinery. Standard cost is the
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to perform some specific tasks to meet the information needs of an org DATABASE MANAGEMENT SYSTEM Is a set of computer programs (Software) that is used to manage the data and the users of data. FILE MANAGEMENT SYSTEMS: File Processing System is a collection of programs that perform services for the end-user‚ such as production of reports and management of data. DISADVANTAGES OF FILE PROCESSING SYSTEM Data Redundancy Data Redundancy means same information is duplicated in several files. This
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Process Costing Objectives ☯To understand what is process costing ☯To understand the physical flow and basic entries in a process costing system ☯To be able to calculate the production cost able in a process costing system by using the the Weighted Average method 1 Comparison of Job-Order Costing and Process Costing JobJob-order costing The oil refining process starts with a fractional distillation column. Typical Application of Process Costing Process Costing Process
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Globusz® Publishing | | | Chapter 4 Standard Cost Learning Objectives * To understand the meaning of standard costing‚ its meaning and definition * To learn its advantages and limitations * To learn how to set of standards and determinations * To learn how to revise standards Introduction You know that management accounting is managing a business through accounting information. In this process‚ management accounting is facilitating managerial control.
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Computer Information Systems Disadvantages Can you believe it? Our country is broke. College funds are being cut everywhere and there are no jobs. The Computer Information Systems field is a very challenging career goal‚ because of the technology changes‚ the degree requirements‚ and the state budget cuts. With all of the rapid changes in technology‚ the Computer Information Systems field can be very demanding. Brier Dudley‚ a Seattle Times technology reporter‚ discusses the rapid changes of technology
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